Mississippi State Approved Sessions

Jeffrey N. Pomerantz, Moderator ABI Vice President-Education Pachulski Stang Ziehl & Jones LLP; Los Angeles Resolved: Curbing pension rights in a chapter 9 case is constitutional. Con: Babette A. Ceccotti Cohen, Weiss & Simon LLP; New York Resolved: Committee member fees are not payable as part of a Chapter 11 plan. Pro: Nan Roberts Eitel Executive Office for U.S. Trustees; Washington, D.C. Con: Dennis F. Dunne Milbank, Tweed, Hadley & McCloy LLP; New York Resolved: A chapter 13 debtor may employ § 363 to effect a free-and-clear short sale of his/her principal residence notwithstanding § 1322(b)(2) and the secured creditor’s objection. Pro: Hon. Eugene R. Wedoff U.S. Bankruptcy Court (N.D. Ill.); Chicago Con: Hon. Mary Grace Diehl U.S. Bankruptcy Court (N.D. Ga.); Atlanta

The panelists will present a mock hearing during which they will adduce evidence from plaintiff and defense witnesses and make legal arguments on various topical issues that arise in a preference action. Among the matters to be discussed will be timely issues involved in preference actions, including both the new value and ordinary course of business defenses, as well as the use of state law preference actions and safe harbors.

We are in the midst of a transformation of the bankruptcy bench; more than 100 judges have been sworn in over the last few years. This panel of some of the newer members of the judiciary will present their advice to practitioners appearing in their courtrooms.

This panel will present an in-depth discussion as to what rights and obligations a licensor and/or licensee has in a bankruptcy case. Section 365(c)(1), (g) and (n) will be highlighted, as well as the impact that the Sunbeam decision will have on the courts.

Conflict and Controversy over Injunctions, Releases and Related Protective Relief

This panel will explore ways to draft pre-petition settlement agreements so that they are “bankruptcy- and preference-proof.” Post-petition settlement agreements will be addressed, with a focus on a discussion of releases, further assurance clauses, indemnification issues, and the settlement of various types of contested matters and adversary proceedings such as claims objections and avoidance actions.

This panel will discuss the Supreme Court’s decision in Bellingham, the coming decision in Wellness, as well as other topical issues of interest.

Resolved: The absolute priority rule should be eliminated in multi-debtor cases. Speakers: Pro: Hon. James M. Peck (ret.) Morrison & Foerster LLP; New York Con:Hon. Mary F. Walrath U.S. Bankruptcy Court (D. Del.); Wilmington Resolved: The provisions in 11 U.S.C. § 363 prime and take precedence over the rights that 11 U.S.C. § 365(h) grants to lessees, so accordingly trustees/debtors in possession can sell real estate free and clear of any lease rights a tenant might have in the sold real estate. Speakers: Pro: Carren B. Shulman Sheppard, Mullin, Richter & Hampton LLP; New York Con: Paul S. Singerman Berger Singerman, LLP; Miami Resolved: Creating mandatory claim mediation in mega-cases for all creditors should not be permitted as an unnecessary and inappropriate cost on smaller creditors. Speakers: Pro: Brian L. Shaw Shaw Fishman Glantz & Towbin LLC; Chicago Con: Jay M. Goffman Skadden, Arps, Slate, Meagher & Flom LLP; New York

Independent board directors play a vital and increasingly important role in restructurings. Acting as an independent director has great rewards, but it also has risks in today’s restructuring environment. This panel will analyze and discuss a variety of issues related to corporate governance in restructurings and liquidations, including (a) the recruitment, appointment, role and duties of independent directors, (b) how to establish an independent board of directors, (c) the role of lawyers and financial professionals in advising a board of directors and independent directors, and (d) D&O claims, insurance and potential risks to independent directors.

A panel of proven rainmakers will share their tips on how restructuring professionals of any age can learn to bring in new business.